Contineum Therapeutics (NASDAQ:CTNM) Shares Up 7.5% – Time to Buy?

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) traded up 7.5% during trading on Monday . The stock traded as high as $14.26 and last traded at $14.1950. 317,023 shares traded hands during trading, an increase of 13% from the average session volume of 280,865 shares. The stock had previously closed at $13.20.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Robert W. Baird increased their price objective on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Monday, April 20th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $14.00 price objective (down from $23.00) on shares of Contineum Therapeutics in a research report on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.50.

Contineum Therapeutics Trading Up 7.2%

The firm has a market cap of $528.36 million, a P/E ratio of -6.49 and a beta of 0.89. The company’s 50 day simple moving average is $13.48 and its 200-day simple moving average is $12.53.

Contineum Therapeutics (NASDAQ:CTNM) last posted its earnings results on Thursday, March 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.01. On average, sell-side analysts anticipate that Contineum Therapeutics, Inc. will post -2.09 earnings per share for the current year.

Hedge Funds Weigh In On Contineum Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in Contineum Therapeutics by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 213,869 shares of the company’s stock valued at $2,446,000 after acquiring an additional 2,819 shares during the period. Eversept Partners LP lifted its stake in Contineum Therapeutics by 2.1% during the 4th quarter. Eversept Partners LP now owns 137,493 shares of the company’s stock valued at $1,572,000 after acquiring an additional 2,874 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in Contineum Therapeutics during the 4th quarter valued at about $43,000. Strs Ohio bought a new position in shares of Contineum Therapeutics in the 1st quarter worth approximately $27,000. Finally, Schonfeld Strategic Advisors LLC lifted its stake in shares of Contineum Therapeutics by 22.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 22,673 shares of the company’s stock worth $259,000 after purchasing an additional 4,177 shares during the period.

Contineum Therapeutics Company Profile

Contineum Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on discovering and developing novel oral small molecule therapies for neuroscience, inflammation, and immunology indications with high unmet need. Its lead asset is PIPE-791, a novel, brain penetrant, small molecule inhibitor of the lysophosphatidic acid 1 receptor (LPA1R) for the treatment of idiopathic pulmonary fibrosis and progressive multiple sclerosis (MS). The company also develops PIPE-307, a novel, small molecule selective inhibitor of the muscarinic type 1 M1 receptor to treat depression and relapse remitting MS; and CTX-343, a peripherally-restricted LPA1R antagonist.